Bloom Energy (NYSE:BE) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Bloom Energy (NYSE:BE) had its price target increased by equities research analysts at Robert W. Baird from $45.00 to $61.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 6.77% from the stock’s previous close.

Several other brokerages have also commented on BE. Wells Fargo & Company lifted their price objective on shares of Bloom Energy from $22.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. UBS Group boosted their price objective on shares of Bloom Energy from $29.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Roth Capital raised their price target on Bloom Energy from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. upgraded Bloom Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $33.00 in a research report on Wednesday, July 9th. Finally, Susquehanna upped their price target on shares of Bloom Energy from $26.00 to $30.00 and gave the company a “positive” rating in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.18.

Bloom Energy Stock Up 4.0%

Bloom Energy stock opened at $57.13 on Thursday. Bloom Energy has a 1-year low of $9.02 and a 1-year high of $57.33. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 1,428.61 and a beta of 3.28. The firm’s fifty day moving average price is $37.04 and its two-hundred day moving average price is $26.22. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. The firm had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Bloom Energy

In related news, insider Satish Chitoori sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the sale, the insider directly owned 234,493 shares in the company, valued at approximately $10,552,185. The trade was a 7.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the sale, the chief executive officer owned 2,368,951 shares of the company’s stock, valued at $117,736,864.70. This trade represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 308,477 shares of company stock worth $14,924,815. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Institutional investors have recently added to or reduced their stakes in the stock. Banque Transatlantique SA boosted its position in shares of Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after acquiring an additional 1,161 shares during the last quarter. Harbour Investments Inc. grew its holdings in Bloom Energy by 2,160.0% during the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock worth $31,000 after acquiring an additional 1,512 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Bloom Energy in the 2nd quarter worth $36,000. NewEdge Advisors LLC raised its position in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock worth $37,000 after acquiring an additional 1,626 shares in the last quarter. Finally, Vision Financial Markets LLC purchased a new position in Bloom Energy during the 1st quarter worth $39,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.